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...More US credit card accounts were past due on their payments to the largest banks at the end of 2023 than at any time since 2012, according to data from the Federal Reserve Bank of Philadelphia....
...The FT’s global head of audio is Cheryl Brumley. The show’s theme song is by Metaphor Music. Read a transcript of this episode on FT.com...
...US central bank....
...Federal Reserve chair Jay Powell has said he still expects inflation to fall towards the US central bank’s 2 per cent goal, as new data highlighted the bumpy road ahead for officials as they debate when...
...Traders dialled back their bets on imminent Federal Reserve rate cuts after data showed US employers added 303,000 jobs in March, in a further sign of a buoyant labour market and a boost to President Joe...
...Federal Reserve officials have indicated they still expect to cut interest rates by three-quarters of a percentage point this year, sending US equity markets to record highs....
...Jay Powell said the Federal Reserve’s job of bringing down inflation was “not yet done” and the US central bank needed “greater confidence” that price pressures were easing before cutting interest rates,...
...US Federal Reserve chair Jay Powell has said it is likely to take “longer than expected” for inflation to return to the central bank’s 2 per cent target and justify cuts to interest rates....
...US inflation unexpectedly increased to 3.2 per cent last month, highlighting the challenge faced by the Federal Reserve in the “last mile” of its fight against rising prices....
...Plus, price rises in services in the US are making the Federal Reserve’s decision-making over interest rates more complicated....
...The business, which has been central to the bank’s growth in recent years, was already in the sights of the Federal Reserve over money laundering controls....
...Analysts have upgraded their forecasts for the US economy this year, bolstering hopes of a soft landing and bets that the Federal Reserve will delay interest rate cuts until the summer....
...was still “walking on eggshells” The ECB looks like it might learn more lessons from Ben Bernanke’s review of the Bank of England than officials in London after Isabel Schnabel advocated the ECB publishing...
...The Federal Reserve is “not far” from having the confidence to start cutting interest rates, its chair Jay Powell has said, bolstering hopes that the central bank will lower borrowing costs in the coming...
...The market’s stubborn hopes of a first cut to US interest rates in March were finally crushed over the past week by strong economic data and firm messaging from Jay Powell, chair of the Federal Reserve....
...The fact that the rises are small and that this is not the Federal Reserve’s preferred measure of inflation is not enough to negate the signal, especially combined with this week’s gangbusters US retail...
...Federal Reserve officials remained “highly attentive” to inflation risks and wary of cutting interest rates too quickly, according to the minutes of its January meeting, pouring more cold water on market...
...Jay Powell moved to cool speculation that the Federal Reserve would begin cutting interest rates as soon as March, saying that was not the “base case” as the US central bank considers easing monetary policy...
...Federal Reserve officials were wary of cutting interest rates too quickly this year, according to a record of their last meeting in January, as they remained “highly attentive” to the risk of resurgent inflation...
...Investors have fallen into line with the Federal Reserve’s expectation that it will cut interest rates just three times this year, ending a months-long stand-off between markets and the central bank....
...I would say simply that if you keep the cost of capital high, page one in your finance textbook will tell you that will have some consequences for households and firms that have a lot of debt, and on banks...
...Federal Reserve officials unleashed their optimism on Wednesday, unveiling projections for faster than expected US economic growth this year while still leaving room to cut interest rates three times....
...Ten of the Federal Reserve’s 12 rate-setting voters have managed at least 20 public appearances between them in the past fortnight....
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